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Vacant Land in Sedona - BIG Buyer's Market

By Barbara Baker

Real Estate Broker/Owner with Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm BR543533000

January 06, 2008 02:58 PM

The Sedona Land Market reached unprecedented heights in the boom... and has made a tremendous turn downward. Our average land price is holding at around $300,000 compared to the high of $500,000. However, for those investors who want to pick up a piece of our red rock country... there are some GREAT bargains at the $200,000 or below pricing. Call me or email me any questions. 800-975-5943 or barbara@verdevalleyproperty.com

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Anonymous

I haven't seen reductions in building lot prices in the prime areas from the research I have done. What areas have decreased as you suggest. I see 3 lots sold in the $400,000 range in December 2007. Were any of these sold at substantially less than asking price?

Jan 20, 2008 09:37 AM

Anonymous

Thanks for the Questions- Pleaase see my most recent quarterly

All areas have decreased. There is very little selling as you can see from this analysis of the Vacant Land Market for the first 6 months of 07 comparred with the last 6 months of 07. The most important aspect is the absorption rate - how long it will take the move the current inventory.

Land - Sedona Land - Village of Oak Creek

Average Price - Now $402,000 Average Price - Now $350,000

5 year Absorption Rate 9 year Absorption Rate

Solds - same - 27 Solds almost the same at 6 compared to 7

Please email me with any more questions. Thank you ,

Barbara

Jan 22, 2008 04:37 PM